When Does My Bankruptcy End?

I am often asked, “how long will this take – when will my bankruptcy end?” The answer depends on the congestion of the court’s docket and what type of bankruptcy is filed. Sparked by the great economic disaster of 2008 bankruptcy filing in the Middle District of Florida is up almost 50% from 2008, topping out at almost 58,000 according to the Tampa Bay Business Journal. The increase in filings in the Middle District of Florida is the second largest in the nation behind the Central District of California.

Despite the increased number of filings, a common chapter seven bankruptcy case in the Middle District of Florida takes anywhere from three to six months from the filing date until the date of discharge. Discharge being the conclusion of a bankruptcy case i.e. the Debtor is alleviated of the debt obligations. Considering the overwhelming number of filings and the second busiest bankruptcy court in the country, a Debtor can make their way through a chapter seven in a reasonable amount of time.

However, if a debtor files a chapter thirteen bankruptcy, the time frame is much different. In a chapter thirteen bankruptcy, the Debtor makes a monthly repayment to the Trustee over the life of a thirty-six or sixty month repayment plan. Once the Debtor makes the last payment in their chapter thirteen plan, the Debtor is then discharged. Depending on which plan, a chapter thirteen bankruptcy takes at least three years before discharge and in many cases five years before discharge.

If you are considering bankruptcy contact the Tampa bankruptcy attorneys at Yesner & Boss to find out what options may be available for you.